Enova SF is a state enterprise owned by the Norwegian government (Ministry of Petroleum and Energy). It is an important energy and climate policy instrument, which contributes to lasting marked changes, and supports development and deployment of more energy and climate efficient technologies.

To ensure a long-term, predictable and stable source of finance, Enova’s activities are financed through resources in a dedicated fund, “the Energy Fund”. The Ministry of Petroleum and Energy governs Enova's management of the fund through a 4-year agreement between the Ministry and Enova which sets goals and reporting criteria.

Enova’s main goal is to contribute to reductions in greenhouse gas emissions and increased security of supply for energy in addition to technology development which in the long run also contributes to reduced greenhouse gas emissions. This main goal is elaborated through three part goals.

Enova offers investment aid and conditional loans to projects within the aforementioned fields. The Energy Fund is financed by means of a levy on the electricity grid tariff, as well as through allocations from the state budget. Enova has an annual budget of more than NOK 2,6 billion.